On June 26, 2015, ITT Educational Services, Inc. (the “Company”) submitted to the U.S. Department of Education (the “ED”) the Company’s
audited consolidated financial statements for the fiscal year ended December 31, 2014, and the compliance audits for the fiscal year ended December 31,
2014 of its institutions’ administration of the federal student financial aid programs under Title IV of the Higher Education Act of 1965, as amended, in
which they participate. As a result, these submissions were made prior to their due date of June 30, 2015.

Corinthian didn't put up any fight, Hence I think they were brought down easily. IMO its a good sign that ITT is staring to fight back. . Means at least they think they can win provided give due process.. and there is a better chance of due process if they make some noise..

Ok.. So they paid back more than half of the Current Long Term debt in just last 1 year:

Net Borrowings (110,434)

With Net Income of $10.4 as recent as last quarter, why do you really think they need extra good luck to pay that off ? Specially when company says that cash generated from operations will be sufficient:

"Based on our current projections, we believe that cash generated from operations will be sufficient for us to satisfy our CUSO RSA and PEAKS Guarantee payments, working capital, loan repayment and capital expenditure requirements over the 12-month period following the date that this Quarterly Report on Form 10-Q was filed with the SEC. We also believe that any reduction in cash and cash equivalents that may result from their use to make payments under the CUSO RSA and PEAKS Guarantee or repay loans will not have a material adverse effect on our planned capital expenditures, ability to meet any applicable regulatory financial responsibility standards, ability to satisfy the financial covenants under the Financing Agreement or ability to conduct normal operations over the 12-month period following the date that this Quarterly Report on Form 10-Q was filed with the SEC."

I was kind of expecting today's action seeing last run up.. In a way it looks good - anyone who bough last few days for sort term probably already sold - and ones who bought today are probably not going to sell easy...

Total Liabilities: Down by 90 M
In comparison, cash: Down by 80M
Net Tangible assets: Up by 31M
Net Income: 29M

If I remember correctly, they had some buyback authorization left, in 2012 they spent abt 200M on buybacks. Wondering that now the earnings issue is behind and current on earnings in next few weeks, when will they start the buyback process again. Any money spent on buybacks at these levels will be a good return to investors.

If anyone read that response - seems appropriate well supported by facts and long overdue. I guess management was waiting for the Reports to be out before they could be more aggressive. What SEC should be investigating are any trades done by these political elements and their near and dear ones. At the very least, harming specific public companies for political gain and without due process should be considered fraud.

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